Western Pa. Housing Market Improves from Last Year

PITTSBURGH, Oct. 19, 2017 /PRNewswire/ -- Today, West Penn Multi-List, Inc. released its Q3 residential real estate report, noting the housing market remains stable with all key indicators up from last year at this time.

"Real estate professionals in our region have been working hard for their clients, and the latest sales numbers reflect a healthy housing market," said George Hackett, current president of West Penn Multi-List, Inc., and president of Coldwell Banker Real Estate Services, Pittsburgh. "I am pleased to see our progress as we head into the fourth quarter, and I am optimistic for a strong finish to the year."

When comparing January-September 2017 with the same time period in 2016:

• Closed sales are up 2.68 percent (21,605 units in 2017 versus 21,041 in 2016);
• Closed sales volume is up 5.69 percent ($3,952,418,700 in 2017 versus $3,739,595,889 in 2016);
• Average sale price is up 2.93 percent ($182,940 in 2017 versus $177,729 in 2016); and
• Home listings are up 0.14 percent (25,732 units in 2017 versus 25,697 in 2016).

"Although we have experienced a dip in home listings recently, the residential real estate market is resilient, and it continues to thrive," said Hackett.

Statistical data in this report is supplied by West Penn Multi-List, Inc., the definitive source for real estate information for its 17-county service area ? Allegheny, Armstrong, Beaver, Butler, Cambria, Clarion, Crawford, Fayette, Greene, Indiana, Jefferson, Lawrence, Mercer, Somerset, Venango, Washington and Westmoreland counties. For more information, visit http://www.westpennmls.com/.

CONTACT: Maegen Laney Noble
[email protected] 
904-451-2644

Kristen Laney O'Toole
[email protected]  
412-327-2907

SOURCE West Penn Multi-List, Inc.